The Distribution industry is expanding, growing, and distributors need to thrive with adaptive technology. As the economy reopens post COVID-19 pandemic, it is time to revive not just today but b future-ready to avail of growth opportunities and cherish unwavering success.
To that end, experts believe these business tips can help distributors take the right decisions and thrive in the modern business world without a hitch.
1. Adapt the New Rules to Redefine Your Business
Wholesale Distributors can sit down with their team and identify the new rules of how business is going to be done. Particularly, posts COVID-19, there are changes in an employee, customer, and supplier behavior. These rules may depend on market segment, geography, relational network, etc.
- Your employees would now maintain a certain distance from each other and follow staggered work shifts.
- Customers may prefer to have smaller equipment or tools as they are likely to be low on cash. Hence, distributors need to change their focus on selling as per the changing requirements. Thus, the distributor might focus on selling smaller pieces of equipment vs. larger ones.
- Overseas distributors are looking up to backup suppliers to prevent shipping delays or stoppage as happened during the pandemic lockdown.
2. Perform Purpose-oriented and Meaningful Operations
Here, the most crucial thing is to make a safe physical workplace for employees. This includes
- Requiring your workforce to wear masks
- Following other basic governmental guidelines.
- Setting up workstations that are (at least) six feet apart.
- Make a plan if an employee gets sick.
- Ensuring employees are safe while working remotely.
- Creating a safe emotional space for teams.
- Ascertaining customers feel safe while shopping or receiving their orders.
3. Aggrandize Business Transition to the ‘Cloud’
The outbreak of the COVID-19 pandemic has accelerated the notion of aggrandizing business transition to the cloud.
By and large, must-haves for wholesale distribution business at present include:
- ERP software. It brings multiple, smaller business systems—human resources, inventory, accounting together in one, integrated system. NetSuite ERP solutions are the world’s most widely deployed cloud ERP solutions that helped businesses transform and drive extensive profitability.
- Customer relationship management (CRM) to keep track of your teams’ interactions with customers.
- Marketing automation tools to automate manual tasks and tailor communications.
4. Anticipate Sales and Marketing Trends
Wholesale distributors need to identify sales tactics and market segments that present a profit opportunity.
Here, one should check
- The company’s strength or weakness sales-wise
- Loopholes in the strategy
- Profit opportunities.
Here, connecting with an accredited NetSuite Partner can help wholesale business analyze their business operations and find key areas for improvement. Moreover, these experts can help you out best of the adaptive technologies to eliminate operational bottlenecks.
5. Strategize and Build Cohesive Communication
You need to create a strategic sequence of moves to power ahead and convey it to your team without a delay. Wholesale distributors must continue on fewer initiatives than before and be more strategic with every business move. NetSuite consultants can help you make more well-informed decisions in such a scenario.
6. Adopt a Customer-centric Approach
While you are adding digital processes and prioritizing employee morale, know that distributor of tomorrow is going to be absolutely customer-centric. It is all about comprehending customers’ needs, ways to fulfill those needs better than others, and offering them the best solution like ever.
Wholesale distribution businesses can drive high productivity, increased efficiency, and even international expansion with NetSuite ERP solutions. Also, it is an industry best practice of connecting with a certified NetSuite Partner in India, who can help unveil more growth opportunities with resource optimization.
inoday has won accolades for its willingness to respond and industry-specific expertise to do away with bottlenecks. Recently, we have grabbed the recognition of # 1 Oracle NetSuite Partner, India’s Top NetSuite Solution Provider Partners from NetSuite. We would assist you in executing your business vision efficiently and driving unrivaled scalability.
inoday is always committed to progress and innovation.
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